Suzuki Swift and Alto helps Maruti improve profits
Indiaâ€™s dominating automaker Maruti has reported impressive revenue and profit figures. Most of this improvement is credited to two models, which have seen tremendous response from the market. While Maruti Alto has displaced Maruti 800 to become the largest selling model in the Indian market, Suzuki Swift continues to show impressive sales in the premium compact car segment.
The automaker posted a better-than-expected 42% growth in second-quarter profit. This also happens to be Marutiâ€™s 10th straight quarterly gain. Maruti reported net profits at Rs 262 crores that comes to around Rs 9.09 a share. This is an improvement from Rs 184 crores, or Rs 6.35, a year earlier. The results are for the third quarter of the current year.
Maruti also reported improvement in sales figures to touch Rs 3,150 crores. This is an improvement of around 16% compared to last year. Managing director Jagdish Khattar said that this improvement is mostly due to their introduction of the Suzuki Swift model and positioning of Maruti Alto as the entry level car somewhat replacing the Maruti 800.
Maruti Suzuki has also gained from their efforts to cut costs and improve efficiency. All these factors have helped them improve on profits.